Snap is taking an innovative step by establishing a dedicated business for its upcoming augmented reality glasses, known as Specs. This new venture will function as a distinct subsidiary under the Snap umbrella, aimed at attracting fresh investments for the project ahead of the anticipated public launch of the Specs glasses later this year.
The company stated, "Creating Specs Inc. as a wholly-owned subsidiary enhances operational focus and alignment, fosters new partnerships, and introduces capital flexibility that includes the possibility of minority investments. This move also supports the development of a unique brand and clearer business valuation."
While the announcement reinforces plans to unveil the first consumer version of Specs smart glasses in 2026, it stops short of providing a specific release date or pricing details. Snap's CEO, Evan Spiegel, has indicated that Specs will be priced lower than Apple's Vision Pro, which is set at $3,499, positioning Specs as a potential game-changer in the market.
Snap emphasized the timeliness of the Specs launch, stating, "As artificial intelligence reshapes our interaction with technology, Specs are designed to utilize a pioneering Intelligence System. This system understands your needs and surroundings to assist with tasks while ensuring your privacy is respected."
Last year, Snap showcased elements of this vision with the release of the Snap OS 2.0 update for its fifth-generation developer Spectacles. Spiegel referred to these glasses as "a new type of computer" that prioritizes AI. The introduction of Specs under a new company could signify Snap's intent to separate its hardware from the Snapchat service, which has faced scrutiny regarding various social issues.